When an enterprise undertakes an Augmented Analytics project, it is typically doing so because it wishes to initiate data democratization, improve data literacy among its team members and create Citizen Data Scientists. The organization looks for a solution that is easy enough for its business users and intuitive enough to produce clear results; one that also provides sophisticated functionality and features and will produce a suitable Return on Investment (ROI) and Total Cost of Ownership (TCO).
Tag: Citizen Data Scientist
No matter the reason or the goal, when an enterprise chooses the right Augmented Analytics solution and carefully plans for and executes its implementation, it can optimize business results, reduce expenses and improve its market position, customer satisfaction and user adoption, and it is key to transforming business users to Citizen Data Scientists to improve results and team skills. Here, we examine the benefits of Augmented Analytics and how to plan and successfully execute an Augmented Analytics initiative.
How Can I Ensure Data Quality and Gain Data Insight Using Augmented Analytics?
There are many business issues surrounding the use of data to make decisions. One such issue is the inability of an organization to gather and analyze data. These enterprises will typically focus on building a team of data scientists or business analysts to help with this task OR they might take on an augmented analytics initiative to provide access to data and analytics for their business users. This is where businesses will often face a second issue; namely that the analytics solution they choose is not designed to easily and quickly provide insight into data and to ensure data quality.
Nothing…and I DO mean NOTHING…is more prominent in technology buzz today than Artificial Intelligence (AI). The use of Generative AI, LLM and products such as ChatGPT capabilities has been applied to all kinds of industries, from publishing and research to targeted marketing and healthcare. Gartner recently estimated that the market for AI software will be nearly $134.8 billion, with the market growing by 31.1% in next several years. In a recent survey of C-suite executives, 80% of said they believe AI will transform their organizations, and 64% said it is the most transformational technology in a generation.
Use Key Influencer Analytics to Understand What Factors Impact Success!
Suppose you are trying to understand why a marketing campaign is failing, or what factors cause your customers to buy your services again. What if you need to know whether the color of a product affects the number of units sold in a particular country or area of a country? There are so many variables and components that can affect business success, and understanding the relationship among all the factors of success can seem like a guessing game.
When you are faced with this quandary, it is wise to use analytics to take the guesswork out of the equation. But how do you begin to analyze all the factors at play?
‘Can an augmented analytics tools tell you what algorithm or analytical technique to use? Can it help you understand the relationships of various factors and issues and determine what changes will help you improve the revenue for a product, or help you create a new service package?’
Statistical and analytical experts will tell you that there are three primary factors that can help you decide on the metrics to use for your analysis:
- The type of data you want to analyze – Understanding the data type can help you decide whether you need to consider a binary approach or look at categories, etc.
- The character of the data you want to analyze – Are you looking at product attributes, a specific threshold or data range, etc.
- What you want to accomplish with your analysis – Do you want to identify trends or patterns or are you trying to understand the relationships among the various factors and which factors affect success?
…and there is one more critical issue you must consider. Namely, who is doing the analysis? If you want to democratize data and improve data literacy across your enterprise, you will want your business users to understand and use analytical tools. But your team members are not statisticians or data scientists. So, they will need easy-to-use augmented analytics tools.
But can an augmented analytics tools tell you what algorithm or analytical technique to use? Can it help you understand the relationships of various factors and issues and determine what changes will help you improve the revenue for a product, or help you create a new service package?
One of the most frustrating tasks a business user has in analytics is finding and gathering the right data for analysis and ensuring that all factors, variables and data that may affect the outcome of the analysis is included. Depending on the size of the dataset a user selects, there may be hundreds or thousands of variables, and business users often find it difficult to identify the rights ones. Yet without the ability to identify the right variables, the business is likely to measure and attend to the wrong things.
That’s where Key Influencer Analytics comes into play! This approach puts the power and clarity of targeted analytics in the hands of business users and support Citizen Data Scientist initiatives and the critical goals of Data Literacy across the organization.
The user can simply point to the dataset they want to analyze and the system will identify the target and the influencers or predictors that will affect the target, along with its impact and it provides crucial metrics such as mean, outliers, and others and identifies relationship and distribution among variables. The system will auto-suggest relationships and present distribution and impact using the most appropriate visualization.
Users enjoy interactive features that allow them to see and explore other combinations and impacts and can select target and predictors, and use them for models, reports or KPIs. Key Influencer Analytics empowers every business user and allows them quickly select and target data to achieve results without the assistance of a data scientist, IT professional or analyst.
Key Influencer Analytics will:
- Identify feature importance based on machine learning algorithms
- Interpret insights in simple language
- Measure statistics
- Reveal influencers with impact on the target
- Auto recommend influencers
- Identify data relationships with interactive visualization
With these tools, business users can identify what matters most within the data, and how the various factors and relationships impact success, and they can understand the interdependence of variables and leverage auto-suggestions and machine learning functionality to gain insight. Users can also leverage the features within the tool to consider various combinations and the impact of those combinations on the success of the project, product or plan.
‘There are so many variables and components that can affect business success, and understanding the relationship among all the factors of success can seem like a guessing game.’
Find out how Key Influencer Analytics can benefit your business users and support Citizen Data Scientists, and how it can provide an advantage to your data scientists, business analysts and IT team members.
Original Post: Key Influencer Analytics Tells You How to Succeed!
Is it the Right Time for My Business to Initiate a Citizen Data Scientist Program?
Whether you are a business owner, a business executive or a business manager, or you just like to keep up with industry trends, you no doubt have read about the transition of business users to Citizen Data Scientists. The topic has been in industry journals and publications for years, and it is still relevant today.
The Citizen Data Scientist Role and Benefits and How to Get Started!
Gartner has predicted that, ‘90% the world’s top 500 companies will have converged analytics governance into broader data and analytics governance initiatives.’ If you wish to compete, your business will want to follow the lead of these top companies. By incorporating analytics into day-to-day activities and allowing access for business users, the business can encourage the transition from business user to Citizen Data Scientist and create a comprehensive system of analytics with governance and collaboration to ensure security, appropriate access, mobile use and fact-based decision-making.
‘The path to Citizen Data Scientist does not have to be fraught with uncertainty.’
If you are a team member in a business environment, your role within that business is unique. But, it doesn’t matter what your role is or what your responsibilities are, it doesn’t matter what tasks or activities you must perform, you need good, solid data to make effective, fact-based decisions. And, your decisions must be swift because business is moving at the speed of light! Add to this the fact that your responsibilities seem to grow in scope and depth every day, and you can see how crucial it is to have the right support and solutions to help you achieve your goals.
If you are considering a transition to Citizen Data Scientist, or your business management team has informed you of their intent to make that transition, you probably have a lot of questions about the process and the role.
What is a Citizen Data Scientist?
Citizen Data Scientists are not business analysts or data scientists. They are business users and team members within the organization. The typical profile of an ideal Citizen Data Scientist is a person who is respected within the organization, and often shares data and information with other users to collaborate and produce outcomes that are designed to achieve goals and objectives and produce a successful outcome. These individuals may already be ‘power users’ of business applications and may have developed and reported or presented data to others with an eye toward clarifying their decision-making. Citizen Data Scientist candidates may also be IT team members who are interested in data science. In any case, these candidates will typically be uniquely curious, interested in data analytics and devoted to fact-based decisions and team collaboration. To fulfill the role of Citizen Data Scientists, business users will leverage augmented analytics solutions; that is analytics that provide simple recommendations and suggestions to help users easily choose visualization and predictive analytics techniques from within the analytical tool without the need for expert analytical skills.
Why is it important to implement a Citizen Data Scientist Program?
Business users can leverage domain and primary skills and expertise to gain insight into results using augmented analytics. Your team can interact with and collaborate with IT and data scientists to define business use cases and refine outcomes, and users are empowered to use analytical tools to hypothesize, prototype, forecast and predict, so the organization can identify issues, challenges and results prior to implementing changes in pricing, products, customer outreach, organizational structure, and all manner of operational decisions. The Citizen Data Scientist initiative will improve the accuracy of decisions, and allow users to share data and models with other users, thereby adding value to the organization. The enterprise can create and manage goals and objectives using measurable data and can improve time to market and make better decisions. The Citizen Data Scientist approach is crucial to sustained competitive advantage and to nurturing human resource assets, improving productivity and making the right decisions at the right time. Businesses and users can get ahead of the curve in the market and enable true collaboration.
‘The business can encourage the transition from business user to Citizen Data Scientist and create a comprehensive system of analytics.’
When a business makes the decision to implement a Citizen Data Scientist initiative, it must have a clear vision of the path to get business users to a new role, and to support those users with the augmented analytics tools and cultural changes required to encourage user adoption of analytics solutions and techniques. The path to Citizen Data Scientist does not have to be fraught with uncertainty. With the right cultural changes and management and technology support, the team can improve data literacy and encourage data democratization. Training is a key component of this success. But it needn’t be a lengthy, complex process.
An in-person or online training program that introduces the role and provides examples of Use Cases and Case Studies can help business users see how these tools might be used within the confines of their own role in the organization.
Explore the options her: One-Day In-Person Or Online Workshop For Citizen Data Scientists or Self-Paced eLearning Citizen Data Scientist sessions.
Find out more about the Citizen Data Scientist Path, Citizen Data Scientist Training and Augmented Analytics. We can help your business succeed and improve user adoption and data literacy.
Original Post : The What, Why and How of the Citizen Data Scientist Role!
How Should My Citizen Data Scientists Work with Data Scientists and Analysts?
Gartner has predicted that, ‘30% of organizations will harness the collective intelligence of their analytics communities, outperforming competitors that rely solely on centralized analytics or self-service.’ What does this mean for business Citizen Data Scientist initiatives? It does NOT mean that the organization should turn away from this type of initiative. What it DOES mean is that a business should recognize the value and purpose of each aspect of its analytical community.
Technology research and consulting firm, Gartner, predicts that, ‘By 2023, data literacy will become an explicit and necessary driver of business value, demonstrated by its formal inclusion in over 80% of data and analytics strategies and change management programs.’
If your business is considering a Digital Transformation initiative, it may be mired in questions about the value vs. the cost and time to make this change. While it is true that a Digital Transformation initiative takes some effort, there are numerous long-term benefits to this effort. In this article, we explore four of the benefits of Digital Transformation, in hopes of helping your organization articulate and affirm the advantages to make a decision that is right for your enterprise.
